KOBA EXPRESS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
KOBA EXPRESS
Largest movements
- Receivables within one year +€52,221
up €52,221 (+24.3%), from €215,070 to €267,292
of which Trade receivables: +€53,890
- Tangible fixed assets +€19,127
up €19,127 (+90.2%), from €21,196 to €40,322
of which Furniture and vehicles: +€13,938
- Cash +€14,169
up €14,169 (+182%), from €7,807 to €21,976
mainly Net result for the year (+€36,209) and Short-term financial debts (+€26,036)
- Receivables after one year -€6,250
no longer reported in 2025 (was €6,250)
- Short-term financial debts +€26,036
new in 2025: €26,036
- Trade debts +€17,545
up €17,545 (+11.7%), from €150,139 to €167,685
- Debts after one year +€11,495
up €11,495 (+48.8%), from €23,579 to €35,074
- Tax, wage and social debts +€11,108
up €11,108 (+16.7%), from €66,553 to €77,661
of which Remuneration and social security: +€18,679
- Current portion of long-term debt +€10,518
up €10,518 (+164%), from €6,421 to €16,939
- Gross operating margin +€108,872
up €108,872 (+73.5%), from €148,133 to €257,006
- Staff costs +€101,173
up €101,173 (+121%), from €83,872 to €185,045
- Taxes -€8,274
down €8,274 (-35.7%), from €23,182 to €14,909
- Financial charges +€6,873
up €6,873 (+136%), from €5,056 to €11,929
of which Financial charges: +€7,233
- Depreciation +€5,958
up €5,958 (+112%), from €5,315 to €11,273
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €256,024 | €333,908 | +€77,884 | +30.4% |
| Fixed assets | 21/28 | €23,064 | €41,454 | +€18,391 | +79.7% |
| Tangible fixed assets | 22/27 | €21,196 | €40,322 | +€19,127 | +90.2% |
| Land and buildings | 22 | - | €958 | +€958 | |
| Plant, machinery and equipment | 23 | €7,348 | €8,959 | +€1,611 | +21.9% |
| Furniture and vehicles | 24 | €13,848 | €27,785 | +€13,938 | +101% |
| Other tangible fixed assets | 26 | - | €2,620 | +€2,620 | |
| Financial fixed assets | 28 | €1,868 | €1,132 | -€736 | -39.4% |
| Current assets | 29/58 | €232,961 | €292,454 | +€59,493 | +25.5% |
| Amounts receivable after more than one year | 29 | €6,250 | - | -€6,250 | |
| Trade receivables | 290 | €6,250 | - | -€6,250 | |
| Amounts receivable within one year | 40/41 | €215,070 | €267,292 | +€52,221 | +24.3% |
| Trade receivables | 40 | €147,217 | €201,106 | +€53,890 | +36.6% |
| Other amounts receivable | 41 | €67,854 | €66,186 | -€1,668 | -2.5% |
| Cash at bank and in hand | 54/58 | €7,807 | €21,976 | +€14,169 | +182% |
| Deferred charges and accrued income | 490/1 | €3,834 | €3,186 | -€647 | -16.9% |
| Total equity and liabilities | 10/49 | €256,024 | €333,908 | +€77,884 | +30.4% |
| Equity | 10/15 | €1,000 | €1,000 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable | 17/49 | €255,024 | €332,908 | +€77,884 | +30.5% |
| Amounts payable after more than one year | 17 | €23,579 | €35,074 | +€11,495 | +48.8% |
| Financial debts | 170/4 | €23,579 | €35,074 | +€11,495 | +48.8% |
| Amounts payable within one year | 42/48 | €231,445 | €297,834 | +€66,389 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €6,421 | €16,939 | +€10,518 | +164% |
| Financial debts | 43 | - | €26,036 | +€26,036 | |
| Credit institutions | 430/8 | - | €26,036 | +€26,036 | |
| Trade debts | 44 | €150,139 | €167,685 | +€17,545 | +11.7% |
| Suppliers | 440/4 | €150,139 | €167,685 | +€17,545 | +11.7% |
| Taxes, remuneration and social security | 45 | €66,553 | €77,661 | +€11,108 | +16.7% |
| Taxes | 450/3 | €65,656 | €58,084 | -€7,572 | -11.5% |
| Remuneration and social security | 454/9 | €897 | €19,577 | +€18,679 | +2,082% |
| Other amounts payable | 47/48 | €8,332 | €9,513 | +€1,181 | +14.2% |
| Remuneration, social security and pensions | 62 | €83,872 | €185,045 | +€101,173 | +121% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,315 | €11,273 | +€5,958 | +112% |
| Other operating charges | 640/8 | €2,731 | €2,606 | -€125 | -4.6% |
| Non-recurring operating charges | 66A | - | €10,277 | +€10,277 | |
| Gross operating margin | 9900 | €148,133 | €257,006 | +€108,872 | +73.5% |
| Operating profit (loss) | 9901 | €56,215 | €47,804 | -€8,411 | -15.0% |
| Financial income | 75/76B | €15,392 | €15,242 | -€150 | -1.0% |
| Recurring financial income | 75 | €11,853 | €5,154 | -€6,699 | -56.5% |
| Non-recurring financial income | 76B | €3,539 | €10,088 | +€6,549 | +185% |
| Financial charges | 65/66B | €5,056 | €11,929 | +€6,873 | +136% |
| Recurring financial charges | 65 | €4,688 | €11,921 | +€7,233 | +154% |
| Non-recurring financial charges | 66B | €368 | €8 | -€360 | -97.8% |
| Profit (loss) for the period before taxes | 9903 | €66,551 | €51,118 | -€15,433 | -23.2% |
| Income taxes | 67/77 | €23,182 | €14,909 | -€8,274 | -35.7% |
| Profit (loss) for the period | 9904 | €43,369 | €36,209 | -€7,160 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,369 | €36,209 | -€7,160 | -16.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.